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2023-10-26_Patrick_Industries_Inc_Reports_Third_Quarter_2023__243.pdf
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📊 Size: 268 KB
👤 Author: Amelia Lopez
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Patrick Industries, Inc. reported third quarter 2023 financial results, with net sales of $866 million, a 22% decrease from $1.11 billion in the third quarter of 2022. Operating income was $71 million, a decrease of $22 million from $93 million in the third quarter of 2022. Net income decreased 33% to $40 million from $59 million in the third quarter of 2022. Despite the sales decline, the company's operating margin remained resilient at 8.2%, and adjusted EBITDA margin increased 130 basis points to 13.1%. The company reduced inventory by $150 million from year-end 2022 and generated $294 million in cash from operations in the first nine months of 2023. On a trailing twelve-month basis, free cash flow was $412 million, a 64% increase from $250 million in the same period last year.

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Patrick Industries, Inc.

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  • File Format: PDF
  • File Size: 268 KB
  • Pages: 8
  • Language: EN
  • Author: Amelia Lopez
  • Total Downloads: 47
  • Last Updated: 1 month ago

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